Here's How You Can Earn $100 In Passive Income By Investing In Verizon Stock

Verizon Communications Inc. VZ provides communications, technology, information and entertainment products and services to consumers, businesses and governmental entities worldwide.

It will report its Q4 2024 earnings on Jan. 24, 2025. Wall Street analysts expect the company to post an EPS of $1.17, up from $1.08 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $33.73 billion, down from $35.13 billion in the year-ago period.

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The 52-week range of Verizon’s stock price was $36.46 to $45.36.

Verizon’s stock dividend yield is 6.11%. During the last 12 months, it paid $2.71 per share in dividends.

The Latest On Verizon

On Oct. 22, the company announced its Q3 2024 earnings, posting sales of $33.33 billion, marginally missing the analyst consensus estimate of $33.43 billion, as reported by Benzinga. 

Declines in wireless equipment revenue offset service and other revenue growth. Adjusted EPS of $1.19 beat the analyst consensus estimate of $1.18. Total wireless service revenue was $19.8 billion, up 2.7% year-over-year, driven by pricing actions and growth from fixed wireless connections. 

Verizon reiterated its full-year 2.0% – 3.5% wireless service revenue growth outlook. It maintained an adjusted EPS of $4.50 – $4.70 versus consensus of $4.57.

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How Can You Earn $100 Per Month As A Verizon Investor?

If you want to make $100 per month –$1,200 annually – from Verizon dividends, your investment value needs to be approximately $19,640, which is 443 shares at $44.37 each. 

Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (6.11%). So, $1,200 / 0.0611 = $19,640 to generate an income of $100 per month.

You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.

The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.

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For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).

In summary, income-focused investors may find Verizon stock an attractive option for making a steady income of $100 per month by owning 443 shares of stock. There may be more upside as investors benefit from the company's consistent dividend hikes. Verizon has raised its dividend consecutively for the last 18 years. 

Check out this article by Benzinga for three more stocks offering high dividend yields. 

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